We have literally taken a campaign that has gone on for nearly three years and suddenly compacted it into about 60 days. It's very British of us, actually.

A word of warning when watching these conventions — many of us in the media holding pens in Denver and St. Paul are going to get caught up in two storylines that won't be debated by the nominees this fall.

In Denver, the subplot is the Clinton issue. Is it real or is it simply about a bunch of activists who are losing their place in the Democratic establishment pecking order? Are they here to make one last stand?

In St. Paul, it'll be this obsession over base unrest with McCain. It'll be hyped but become less of a problem when the rubber meets the voting road.